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Greed is the human instinct we have failed to keep in check.
It's not inevitable at all, most emerging industries have consortiums and strong intra-industry cooperation. In crypto, there's too much infighting with the focus on attracting greater fools, than improving our mechanism design and culture to be less negative-sum.
Worse still, most people actively encourage it, while the minority who see it as a problem just give up "it's just human nature, we can't do anything about it, I'll just focus on my lane". Categorically false. Literally, capitalism, which makes the modern world go round, is an exercise in harnessing greed to be positive-sum through good design & regulations.
Crypto is a rare and specific failure case, and it'll continue to be till the industry self-reflects and forms a will to improve.
There's also a lack of good regulations by most governments, but I'd argue this is largely downstream of the above. 1 reply
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